By Ian Neubauer
Pernod Ricard has reported a 13 per cent increase in net sales for the first quarter of the 2008-09 financial year on the back of stronger demand for super premium spirits and its recent acquisition of Absolut vodka.
The French liquor giant, which snapped up Absolut parent company Vin&Spirit in July for $12 billion, reported net sales of $3.4 billion for the period.
“The satisfactory performance recorded by the group in the first quarter 2008/09, the power of its commercial network and its portfolio of major brands, as well as the strength of its decentralised business model ensuring high responsiveness, enable us to confirm our 2008/09 full-year guidance, in spite of the overall economic slowdown,” Pernod Ricard said in a statement.
Sales data confirmed by Nielsen showed growth for Absolut of 2 per cent in the US, 42 per cent in Brazil, 23 per cent in France, 20 per cent in Poland, 12 per cent in Poland and 8 per cent in Spain — an overall increase of 9 per cent compared to the previous period.
Sales results for Absolut in Australia were not included in the report, but the company reported good performance driven by price increases.
Pernod Ricard also reported strong sales growth in New Zealand driven by Montana and Jacob’s Creek wines.